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    Property profile & analytics

    1602 Spring Rd Carlisle, PA 17013

    • Investment properties
    • 2,056 SF
    • 1.06 lot acres
    For Sale
    View listing
    $600,000
    Value Estimations
    Cap Rate Potential
    5.6%
    Investment properties
    Location Intelligence
    Property ID
    US73-2125533
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Next Car Motors LLC / Used Car Dealer / Car Dealer

    Property Details for 1602 Spring Rd

    Lot size
    1.06 lot acres
    Property size
    2,056 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    29-18-1369-012
    APU
    29181369012

    Description

    This exceptional mixed-use property, located at 1602 Spring Road in Carlisle, Pennsylvania, presents a unique investment opportunity. Boasting 2,168 square feet on a 1.06-acre lot, this property enjoys high visibility on the heavily trafficked Spring Road, with additional access from Longs Gap Road. Its Neighborhood Commercial zoning allows for a wide range of potential uses, making it highly versatile. Previous uses have included residential rentals, a car lot, and a real estate sales office, demonstrating its adaptability to various business models. The property's strategic location offers convenient proximity to local attractions such as the Carlisle Car Show and the vibrant downtown area, while also providing easy access to major transportation routes. This combination of prime location, flexible zoning, and ample space makes this property an ideal investment for entrepreneurs and developers seeking a high-impact commercial venture in a thriving community. The property's size and accessibility make it suitable for a variety of businesses, from retail and office spaces to light industrial uses (subject to zoning regulations). Serious inquiries are encouraged to explore the full potential of this exceptional Carlisle property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $320,000
      6.5%
      $295,000
      7%
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $251,000
      Market price range: $147k - $410k
      AI Estimate
      $262,000
      Market price range: $139k - $437k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $285,000
      Current use
      OFFICE BUILDING
      $275,000
      Change: -3% Conversion: Easy
      AUTO REPAIR, GARAGE
      $240,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carlisle
    County
    Cumberland
    State
    Pennsylvania
    Longitude
    -77.1851
    Latitude
    40.2232
    CBSA code
    25420
    CBSA name
    HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,203
    $141,300
    $17,600
    $158,900
    -
    $141,300
    $17,600
    $158,900

    Comparable in this City

    • Value Estimation
      $625,000
      4,238 SF

      118 Hanover St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,238 SF
      118 Hanover St, Carlisle, PA 17013-3414
      View Details
    • Value Estimation
      $525,000
      2,538 SF

      22 Pomfret St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,538 SF
      22 Pomfret St, Carlisle, PA 17013-3216
      View Details
    • Value Estimation
      $270,000
      1,500 SF

      245 7th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,500 SF
      245 7th Ave, Carlisle, PA 17013-1450
      View Details
    • Value Estimation by Request
      2,048 SF

      574 Ee St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,048 SF
      574 Ee St, Carlisle, PA 17013-1336
      View Details
    • Value Estimation by Request
      2,004 SF

      790 High St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,004 SF
      790 High St, Carlisle, PA 17013-2705
      View Details
    • Value Estimation
      $375,000
      0.67 Acres

      800 High St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.67 Acres
      800 High St, Carlisle, PA 17013-2706
      View Details

    Similar Nearby for Sale

    • $600,000
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      Carlisle Mixed-Use Property - $600k

      Prime Carlisle location, high visibility, 2,168 sq ft.
      1602 Spring Rd, Carlisle, PA 17013
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    Similar Nearby for Lease

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      Downtown Carlisle Office Space Available

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      Carlisle Trailer Lot for Lease

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      Carlisle Warehouse with Immediate Occupancy

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      View Details
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    1602 Spring Rd
    Carlisle, PA 17013
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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